Ned Davis Research strategists John LaForge and Warren Pies argue oil will hit record highs in...

Ned Davis Research strategists John LaForge and Warren Pies argue oil will hit record highs in 2013, even as many see oil’s price bobbing around more or less where it is today at $90-$100. What the U.S. is gaining in production, the rest of the developed world is losing, they say. But prices already aren’t far off on an inflation-adjusted basis, and not when considering pricier Brent crude.